RESERVE BANK

New Delhi: Scotching murmurs of differences between the government and the Reserve Bank of India over regulation of money market, Finance Minister Arun Jaitley on Sunday said there is no 'disconnect' between the two and hoped banks would follow the central bank in reducing interest rates.
Jaitley, who addressed the RBI...

US Federal Reserve had signalled that it is not averse to a rate hike if there is improvement in the US job market and inflation. The Federal Reserve has kept its key short-term rate near zero since late 2008 to bolster the economy. Meanwhile, RBI Governor Raghuram Rajan has said...

New Delhi: With a number of key reforms bills stuck, government on Tuesday appealed to the opposition not to play "obstructionist" as the country has the "historic opportunity" to grow and the GDP is expected to go beyond 8 per cent next year, overtaking China.
Finance Minister Arun Jaitley also rejected...

Mumbai: Benchmark indices nosedived in the last hour of trade on Wednesday after touching record highs earlier in the day spurred by the 25 basis point repo rate cut.
The 30-share BSE Sensex shed 213 points to close at 29380.73, after hitting a new high of 30024.74 intraday. The 50-share...

Mumbai: In a surprise move, the Reserve Bank of India on Wednesday cut repo rate by 25 basis points from 7.75 per cent to 7.5 per cent with immediate effect. This is the second rate cut in the past two months.
The cut in repo rate is likely to make home...

Mumbai: India will inject 79.4 billion rupees ($1.3 billion) into state-owned banks in the next fiscal year to bolster their capital reserves, a smaller-than-expected sum which means the sector's heavyweights may have to turn to the market or curb lending.
Successive governments have poured billions into India's bad-debt burdened state banks,...

New Delhi: Overseas investors have pumped in over Rs 10,000 crore in Indian capital markets in the first two weeks of this month on hopes of a pro-growth budget and rising expectations the government will accelerate reforms.
The fund inflow this month takes the investment to above Rs 43,000 crore (USD...

New Delhi: The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit.
The...

Mumbai: Rising for the sixth day in a row, the benchmark Sensex on Friday surged 380.36 points to end at over three-week high of 27,887.9 on encouraging manufacturing data and gains in banking stocks on hopes of sectoral reforms.
The NSE barometer Nifty also soared over 111 points to close at...

Mumbai/ New Delhi: Finance Minister Arun Jaitley denied on Tuesday that he was pressuring the Reserve Bank of India (RBI) into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy.
Jaitley, in a speech in Delhi on Monday, said "costly...

New Delhi: The Reserve Bank of India (RBI) on Wednesday imposed a penalty of Rs 50 lakh on ICICI Bank and Rs 25 lakh on Bank of Baroda for violation of KYC norms, a statement issued by the apex bank said.
"The Reserve Bank of India has imposed monetary penalty on...

London: Oil fell below $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month sell off as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.
International benchmark Brent crude has almost halved since reaching a 2014 high of $115 a barrel...

Mumbai: On the basis of an assessment of the current and evolving macroeconomic situation, RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent.
Monetary and Liquidity Measures
On the basis of an assessment of the current and evolving macroeconomic situation, it has been...

Mumbai: The Reserve Bank of India is expected to keep interest rates unchanged on Tuesday, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth.
Forty-one of 45 economists saw the RBI keeping the repo rate at 8.00...

Pushing for a rate cut by the Reserve Bank of India, Finance Minister Arun Jaitley said that the measure would give a good fillip to the economy. Jaitley's comments came on the back of a slide in crude oil prices and inflation moderating. "I am quite clear in my mind...

Mumbai: Reserve Bank Governor Raghuram Rajan expressed reservation over the loan waiver scheme by various state governments and also suggested reasonable interest rate ceiling on loans from microfinance lenders.
"Repeated loan waivers by various state governments distorts credit pricing, thereby also disrupting the credit market," he said at a function...

New Delhi: Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of Rs 20 per transaction from Saturday.
As per the Reserve Bank's new guidelines that comes into force from Saturday, bank customers in six metros-- Delhi, Mumbai,...

Mumbai: The Reserve Bank, which is in the process of restructuring some of its departments, redistributed work among its four Deputy Governors.
It said that consequent on reorganisation of the departments/work areas in the Reserve Bank effective on November 3, 2014, the portfolios of the Deputy Governors has been redistributed....

Mumbai: Reserve Bank Governor Raghuram Rajan said there was a need to "break the back" of inflation which remains high and controlling it would make the apex bank's position more comfortable.
"The real problem is inflation that is persistent. We have been emphasising again and again in order to break...

New Delhi: Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money.
The central bank has also asked state governments to take stern action against any other erring UCBs after reports emerged...

New Delhi: Putting to rest the debate on printing of one rupee notes, the Law Ministry has opined that the Government of India has all the powers to print currency notes of this denomination.
While the Reserve Bank of India (RBI) has the authority to issue bank notes of denominational values...

New Delhi: Inflation dipped to a five month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.
It was at 5.43 per cent last month and 5.84 per cent in July 2013.
Inflation in the overall food articles...

Mumbai/New Delhi: Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government if he is seen as overstepping.
Rajan, well known within the RBI for pragmatism, now must...

Mumbai: The Reserve Bank of India (RBI) kept its key policy repo rate unchanged on Tuesday as widely expected, but warned about inflationary risks should a shortfall in monsoon rains spark a surge in food prices.
The RBI also lowered banks' minimum bond holding requirements, known as the statutory liquidity ratio...

The Indian blue collar workers have been working in the Middle East as domestic help with no one to listen to their grievances. Popularly known as 3D workers they work as truck drivers, construction workers and so on. According to the report presented by the Reserve Bank of India 70...

Mumbai: The Reserve Bank of India (RBI) on Thursday restored the overseas investment limit of Indian companies to 400 percent of the firm's net worth after the rupee rebounded from last year's record low levels against the dollar.
Last August, the RBI cut the overseas investment limit for companies to 100...

New Delhi: Indian factory activity expanded in June at its quickest pace since February while output prices rose at the fastest rate in eight months, signalling a further rise in inflation that is bound to vex the Reserve Bank of India (RBI), a business survey showed on Tuesday.
The HSBC Manufacturing...

Mumbai: Hailed as a troubleshooting "James Bond" of central bankers amid India's currency crisis last year, Raghuram Rajan was given a licence to kill inflation with higher interest rates and drive a programme of monetary policy reforms.
Now, the governor of the Reserve Bank of India (RBI) may need all the...